JICA injects $4.5-bn in DMIC corridor

The Japan International Cooperation Agency (JICA) has agreed to invest $4.5 billion as soft loan to boost $100 billion Delhi-Mumbai Industrial Corridor project. Funds from a Japanese government agency will soon be utilized for the first time in the Delhi-Mumbai Industrial Corridor (DMIC) project. So far, the mega-project was being developed only with the Indian government’s financial assistance. The DMIC spans across six states (Uttar Pradesh, Delhi National Capital Region, Haryana, Rajasthan, Gujarat, and Maharashtra). It uses the 1,500 km long, high capacity western Dedicated Railway Freight Corridor (DFC) as the backbone and aims to be a global manufacturing and investment destination.

A soft loan with concessional conditions will be invested to develop two Mass Rapid Transit Systems (MRTS) — one each in Gujarat and Haryana — that will be part of the DMIC, official sources said that JICA, in charge of implementation of Japan’s Official Development Assistance (ODA) — with the main objective of promoting economic development and welfare in developing countries. Incidentally, a JICA loan worth Rs.88,000 crore, on similar terms will be used to build the Rs.1.08 lakh crore Ahmedabad-Mumbai bullet train project. JICA loans being used to facilitate development of metro rail networks including in Delhi and the Western DFC and the MRTS in Gujarat will be at grade ground level and link Ahmedabad to the Dholera Special Investment Region (DSIR). The MRTS in Haryana will be an elevated one and will connect Gurgaon and Bawal part of the Manesar-Bawal Investment Region in the DMIC.

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JICA injects $4.5-bn in DMIC corridor

NBM Media

NBM Media

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